$2.56 EPS Expected for Align Technology, Inc. (NASDAQ:ALGN) This Quarter

Brokerages forecast that Align Technology, Inc. (NASDAQ:ALGN) will post $2.56 earnings per share for the current quarter, Zacks reports. Six analysts have issued estimates for Align Technology’s earnings, with estimates ranging from $2.37 to $2.80. Align Technology reported earnings per share of ($0.35) during the same quarter last year, which indicates a positive year-over-year growth rate of 831.4%. The company is scheduled to report its next quarterly earnings results on Wednesday, July 28th.

On average, analysts expect that Align Technology will report full year earnings of $10.53 per share for the current year, with EPS estimates ranging from $10.04 to $11.30. For the next fiscal year, analysts forecast that the company will post earnings of $12.60 per share, with EPS estimates ranging from $11.96 to $13.80. Zacks’ EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Align Technology.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Tuesday, April 27th. The medical equipment provider reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.47. The firm had revenue of $894.80 million during the quarter, compared to analyst estimates of $810.27 million. Align Technology had a return on equity of 14.65% and a net margin of 16.27%. The business’s revenue for the quarter was up 62.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.73 earnings per share.

Several brokerages have recently commented on ALGN. Robert W. Baird increased their target price on Align Technology from $655.00 to $745.00 and gave the stock an “outperform” rating in a report on Thursday, April 29th. Piper Sandler increased their target price on Align Technology from $700.00 to $735.00 and gave the stock an “overweight” rating in a report on Thursday, April 29th. Credit Suisse Group increased their target price on Align Technology from $693.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, April 29th. Stifel Nicolaus raised their price target on Align Technology from $650.00 to $750.00 and gave the company a “buy” rating in a report on Thursday, April 29th. Finally, SVB Leerink raised their price target on Align Technology from $690.00 to $770.00 and gave the company an “outperform” rating in a report on Thursday, April 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. Align Technology presently has an average rating of “Buy” and an average target price of $622.75.

Shares of ALGN stock traded up $26.65 during trading hours on Thursday, hitting $612.15. 25,986 shares of the company’s stock were exchanged, compared to its average volume of 601,391. The company has a 50-day moving average price of $585.47. The firm has a market cap of $48.44 billion, a PE ratio of 101.83, a price-to-earnings-growth ratio of 2.82 and a beta of 1.69. Align Technology has a 52 week low of $237.24 and a 52 week high of $647.20.

In related news, Director Warren S. Thaler sold 5,000 shares of Align Technology stock in a transaction that occurred on Monday, May 24th. The stock was sold at an average price of $605.16, for a total value of $3,025,800.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO John Morici sold 6,863 shares of the firm’s stock in a transaction that occurred on Friday, May 21st. The shares were sold at an average price of $597.65, for a total value of $4,101,671.95. Following the completion of the transaction, the chief financial officer now owns 3,040 shares of the company’s stock, valued at $1,816,856. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,396 shares of company stock worth $13,413,107. 0.70% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV boosted its stake in shares of Align Technology by 226.7% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 49 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 34 shares during the period. BDO Wealth Advisors LLC bought a new stake in Align Technology in the 4th quarter valued at $27,000. Allred Capital Management LLC bought a new stake in Align Technology in the 1st quarter valued at $27,000. Atlas Capital Advisors LLC boosted its stake in Align Technology by 150.0% in the 1st quarter. Atlas Capital Advisors LLC now owns 50 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 30 shares during the period. Finally, Prestige Wealth Management Group LLC boosted its stake in Align Technology by 488.9% in the 4th quarter. Prestige Wealth Management Group LLC now owns 53 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 44 shares during the period. Hedge funds and other institutional investors own 84.28% of the company’s stock.

Align Technology Company Profile

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.

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Earnings History and Estimates for Align Technology (NASDAQ:ALGN)

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